WASHINGTON (dpa-AFX) - Energy holding company NiSource Inc. (NI) posted higher GAAP income from continuing operations of $215.4 million, or $0.69 per share in the first quarter, compared with $192.5 million, or $0.68 per share, a year back. The company recorded GAAP operating income of $428.1 million for the first quarter of 2013, versus $397.7 million in the year-ago period.
On a non-GAAP basis, quarterly net operating earnings from continuing operations stood at $215.3 million, or $0.69 per share, with non-GAAP operating earnings totaling $427.9 million for the period. On average, 9 analysts polled by Thomson Reuters expected earnings per share of $0.71 for the quarter. Analysts' estimates typically exclude one-time items.
As per non-GAAP basis, total net revenues were $1.105 billion, compared with the previous year's $1.06 billion, with gross revenues improving year-on-year to $1.78 billion, from $1.69 billion a year before. Analysts estimated revenues of $1.69 billion for the quarter.
According to the company, first-quarter 2013 results reflect its $340 million forward sale equity issuance completed on Sept. 10, 2012, which added about 24 million common shares outstanding, compared with last year.
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